The Derivative Oscillator calculates a double-exponentially smoothed Relative Strength Index (RSI) and subtracts its Simple Moving Average (SMA) to form the main oscillator line. A secondary signal line is plotted using an SMA of the main oscillator values. Th
Indicator · Pine Script v5 · Own pane
MACD Histogram Percentile Rainbow
MACD Histogram Percentile Rainbow calculates the standard Moving Average Convergence Divergence line, signal line, and histogram in a separate indicator pane.
GitHub stars43on the repository
Pine versionv5runs as is
Lines of code31
Settings6inputs
LicenceNone statedfile: MPL-2.0
Last update1 year ago23 Sep 2025
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
31 lines of Pine Script v5 from MACD Histogram Percentile.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Zettt
// 2023-12-05 - Initial release
//@version=5
indicator("MACD Histogram Percentile Rainbow", shorttitle = "MACD Rainbow", overlay = false)
shortEMA = input.int(defval = 12, title = "MACD Short EMA Length", minval = 1, group="MACD")
longEMA = input.int(defval = 26, title = "MACD Long EMA Length", minval = 1, group="MACD")
signalEMA = input.int(defval = 9, title = "Signal EMA Length", minval = 1, group="MACD")
lookback = input.int(defval = 50, title = "Percentile Lookback", minval = 1, group="MACD")
// optionally we *could* color the background of the plot, when the MACD percentileRank is at extreme levels
// percentileRankExtreme = input.int(defval = 10, title = "Percentile Extreme", minval = 1, step = 1)
// Color gradient
bottomColor = input.color(defval = color.rgb(255, 235, 59, 50), title = "Bottom Color", group = "Gradient")
topColor = input.color(defval = color.rgb(242, 54, 69, 50), title = "Top Color", group = "Gradient")
// bottomColorCutoff = input.float(defval = 0, title = "Bottom Color Cutoff", minval = 0, step = 0.1, group = "Gradient", tooltip = "Below this value, the gradient will not take effect, i.e. the color will stay constant.")
// topColorCutoff = input.float(defval = 100, title = "Top Color Cutoff", minval = 0, step = 0.1, group = "Gradient", tooltip = "Above this value…")
// MACD
[macdLine, signalLine, histLine] = ta.macd(close, shortEMA, longEMA, signalEMA)
// Ranking the histogram values
percentileRank = ta.percentrank(histLine, lookback)
// Plots
plot(macdLine, color=color.blue)
plot(signalLine, color=color.orange)
// plot(histLine, color=color.red, style=plot.style_histogram)
plot(histLine > 0 ? histLine : na, title="Lowest Volatility", color=color.from_gradient(percentileRank, 0, 100, bottomColor, topColor), style=plot.style_columns, histbase=0)
plot(histLine < 0 ? histLine : na, title="Lowest Volatility", color=color.from_gradient(percentileRank, 0, 100, topColor, bottomColor), style=plot.style_columns, histbase=0)
Overview
MACD Histogram Percentile Rainbow evaluates the relative magnitude of histogram bars against historical data using a percentile ranking over a specified lookback window. The histogram columns are rendered with a dynamic color gradient that changes based on this percentile rank. Users can adjust the short, long, and signal moving average lengths, the lookback period, and gradient color thresholds.
- MACD histogram evaluation via percentile ranking
- Dynamic color gradient based on historical lookback
- Customizable short, long, and signal EMA parameters
Details
Published by
Zettt on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum, Moving averages
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| MACD Short EMA Length | int | 12 | shortEMA |
| MACD Long EMA Length | int | 26 | longEMA |
| Signal EMA Length | int | 9 | signalEMA |
| Percentile Lookback | int | 50 | lookback |
| Bottom Color | color | color.rgb(255, 235, 59, 50) | bottomColor |
| Top Color | color | color.rgb(242, 54, 69, 50) | topColor |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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